Making Home Affordable Program (HAMP) Slowdown

December 6, 2010 No comments yet

The number of borrowers helped by the Obama administration’s MAKING HOME AFFORDABLE (HAMP)foreclosure prevention program continued to dwindle in October, data released by the Treasury Department on Thursday showed. In October, 2010: 16,634 borrowers obtained a permanent loan modification, down from 17,771 in September. The number of homeowners dropping out of the HAMP program continue [...]

Federal Loan Modification Program Changes-HAMP Changes

April 18, 2010 No comments yet

One of the most commonly cited ways to make loan modification programs more effective is to require banks to write down the principal on loans. This reduces the amount owed by the borrower, which encourages borrowers to stay put and make payments even if they were very deep underwater before. It so reduces banks’ PROFIT; [...]


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